Macy’s Nov and Dec 2015 sales: 80% of our YoY declines in comparable sales can be attributed to shortfalls in cold-weather goods such as coats, sweaters, boots, hats, gloves and scarves

CINCINNATI, 2016-1-7 — /EPR Retail News/ — Macy’s, Inc. (NYSE:M) today announced that its comparable sales on an owned plus licensed basis declined by 4.7 percent in the months of November and December 2015 combined, compared with the same period last year.

On an owned basis, comparable sales declined by 5.2 percent in the combined November/December period.

(Editor’s Note: Macy’s, Inc. this afternoon also issued a separate news release outlining cost efficiencies and listing upcoming store closings.)

“The holiday selling season was challenging, as experienced throughout 2015 by much of the retailing industry. In the November/December period, we were particularly disadvantaged by the historically warm weather in northern climate zones where both Macy’s and Bloomingdale’s are especially well-represented. About 80 percent of our company’s year-over-year declines in comparable sales can be attributed to shortfalls in cold-weather goods such as coats, sweaters, boots, hats, gloves and scarves. We also continued to feel the impact of lower spending by international tourists as the value of the dollar remained strong,” said Terry J. Lundgren, Macy’s, Inc. chairman and chief executive officer.

“That said, we are buoyed by a very strong performance in our digital business, with continued double-digit increases in online sales. In November/December, we filled nearly 17 million online orders at macys.com and bloomingdales.com – a new record for our company and an increase of about 25 percent over last year – based on significant new fulfillment capacity, site functionality and aggressive digital marketing. This validates the strength of our omnichannel strategy and related investments which we made over the past decade and will continue into the future,” Lundgren said.

Please see the last page of this news release for important information regarding the calculation of the company’s comparable sales on an owned basis and comparable sales on an owned plus licensed basis.

Guidance

Macy’s, Inc. is not expecting a major change in sales trend in January and expects a comparable sales decline on an owned plus licensed basis in the fourth quarter of 2015 to approximate the 4.7 percent decline in November/December (from previous guidance of down between 2 percent and 3 percent for the fourth quarter). This calculates to guidance for comparable sales on an owned plus licensed basis in the full-year 2015 to decline by approximately 2.7 percent (from previous guidance of down 1.8 percent to 2.2 percent).

The decline in fourth quarter comparable sales on an owned basis is expected to be approximately 50 basis points greater than on an owned plus licensed basis.

Earnings per diluted share for the full-year 2015 now are expected in the range of $3.85 to $3.90, excluding expenses related to cost efficiencies announced today and asset impairment charges associated primarily with spring 2016 store closings. This compares with previous guidance in the range of $4.20 to $4.30. Updated annual guidance calculates to guidance for fourth quarter earnings of $2.18 to $2.23 per diluted share, excluding charges associated with cost efficiencies and store closings. This compares with previous guidance for earnings per diluted share of$2.54 to $2.64 in the fourth quarter. Earnings guidance for 2015 includes an expected $250 million gain on the sale of real estate in downtown Brooklyn.

Fourth Quarter Announcement

Macy’s, Inc. is scheduled to report fourth quarter sales and earnings on Tuesday, Feb. 23, 2016. Additional detail on financial performance will be provided at that time. The company will webcast a call with financial analysts and investors at 9 a.m. ET on Feb. 23. Macy’s, Inc.’s webcast is accessible to the media and general public via the company’s website at www.macysinc.com. Analysts and investors may call in on 1-888-806-6224, passcode 9176608. A replay of the conference call can be accessed on the website or by calling 1-888-203-1112 (same passcode) about two hours after the conclusion of the call.

Macy’s, Inc., with corporate offices in Cincinnati and New York, is one of the nation’s premier retailers, with fiscal 2014 sales of $28.015 billion. The company operates about 900 stores in 45 states, the District of Columbia, Guamand Puerto Rico under the names of Macy’s, Bloomingdale’s, Bloomingdale’s Outlet, Macy’s Backstage and Bluemercury, as well as the macys.com, bloomingdales.com and bluemercury.com websites. Bloomingdale’s inDubai is operated by Al Tayer Group LLC under a license agreement.

All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy’s management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, off-price and discount stores, manufacturers’ outlets, the Internet, mail-order catalogs and television shopping and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission.

(Note: additional information on Macy’s, Inc., including past news releases, is available at www.macysinc.com/pressroom)

MACY’S, INC.

Important Information Regarding Non-GAAP Financial Measures
(All amounts in millions except percentages)

The Company reports its financial results in accordance with generally accepted accounting principles (GAAP). However, management believes that certain non-GAAP financial measures provide users of the Company’s financial information with additional useful information in evaluating operating performance. See the table below for supplemental financial data and a corresponding reconciliation to the most directly comparable GAAP financial measures. This non-GAAP financial measure should be viewed as supplementing, and not as an alternative or substitute for, the Company’s financial results prepared in accordance with GAAP. Certain of the items that may be excluded or included in this non-GAAP financial measure may be significant items that could impact the Company’s financial position, results of operations and cash flows and should therefore be considered in assessing the Company’s actual financial condition and performance. Additionally, the amounts received by the Company on account of sales of departments licensed to third parties are limited to commissions received on such sales. The methods used by the Company to calculate its non-GAAP financial measures may differ significantly from methods used by other companies to compute similar measures. As a result, any non-GAAP financial measures presented herein may not be comparable to similar measures provided by other companies.

Macy’s, Inc. believes that providing changes in comparable sales on an owned plus licensed basis, which includes the impact of growth in comparable sales of departments licensed to third parties supplementally to its results of operations calculated in accordance with GAAP assists in evaluating the Company’s ability to generate sales growth, whether through owned businesses or departments licensed to third parties, on a comparable basis, and in evaluating the impact of changes in the manner in which certain departments are operated.

9 Weeks
Ended
January 2,
2016
Decrease in comparable sales on an owned basis (Note 1) (5.2)%
Impact of growth in comparable sales of departments licensed to third parties (Note 2) 0.5 %
Decrease in comparable sales on an owned plus licensed basis (4.7)%

Notes:

Source: Macy’s, Inc.Macy’s, Inc.

Media – Jim Sluzewski, 513-579-7764
Investor – Matt Stautberg, 513-579-7780

(1) Represents the period-to-period change in net sales from stores in operation throughout the year presented and the immediately preceding year and all online sales, excluding commissions from departments licensed to third parties.
(2) Represents the impact of including the sales of departments licensed to third parties occurring in stores in operation throughout the year presented and the immediately preceding year and via the Internet in the calculation of comparable sales. The Company licenses third parties to operate certain departments in its stores and online and receives commissions from these third parties based on a percentage of their net sales. In its financial statements prepared in conformity with GAAP, the Company includes these commissions (rather than sales of the departments licensed to third parties) in its net sales. The Company does not, however, include any amounts in respect of licensed department sales (or any commissions earned on such sales) in its comparable sales in accordance with GAAP (i.e. on an owned basis). The Company believes that the amounts of commissions earned on sales of departments licensed to third parties are not material to its results of operations for the periods presented.

Debenhams Reveals Fishermen Behind New British Trend

Debenhams has revealed that fishermen have been named as the driving force behind a new trend hitting the British high streets this winter.

Debenhams logo - links to home page

The popularity of exciting and macho fishing television programmes such as ‘Deadliest Catch’ and ‘Extreme Fishing with Robson Green’ have made fishing cool again and transformed the image of clothing traditionally associated with seafaring pursuits.

Demand for duffle coats, cream cable knit jumpers, chunky woollen socks, stripy t-shirts, waterproof trousers and rugged has soared over the last month with further increases expected as the cold weather continues.

Currently up on the year are chunky boots (up 81 per cent), boat shoes (up 195 per cent), thick woollen socks (up 27 per cent), duffle coats (up 25 per cent), striped t-shirts (up 25 per cent), thermal underwear (up 67 per cent), waterproof trousers (up 94 per cent) and heavy knits, up 55 per cent.

Inspired by the likes of Paul Weller, David Beckham, David Cameron and Noel Gallagher, it seems British men are falling hook, line and sinker for the look.

Ruth Attridge, spokesperson for Debenhams said: “No longer just the hobby of a solitary riverbank dweller, these TV shows have made ‘fisherman fashion’, the humble duffle coat, waterproof trousers and obligatory chunky socks and thermals, the must have look for autumn/winter 2011.

“Even ‘Trawlermen’, documenting the tough times of the Peterhead and Fraserburgh fishing fleets and arguably the most unlikely fashion icons, has shown the average British landlubber the masculine appeal of a hardy seaman.”

Influenced by designers such as Burberry Prorsum, Paul Smith and Roland Mouret parading the angling look on the autumn/winter 2011 catwalks, the on trend way to wear fisherman fashion is in bold colours, with large pockets on duffles, teamed with mens boots and a beanie hat.

Debenhams has also seen the look start to translate into womenswear with bright duffle coats and chunky cardigans worn by the likes of Alexa Chung and Taylor Swift leading the way.

Debenhams’ Ruth Attridge continued: “The tough, capable image of seafaring clothing seems to have chimed with the mood of the nation during the financial difficulties.

“Knowing that you are well equipped to cope with everything life can throw at you – no matter how hard the going becomes – is now seen as essential to weather the economic storm.

“Warm, hardwearing and now stylish, these items herald the return of practical fashion that will see you through the season and beyond.”

Via EPR Network
More Retail press releases

Burton Introduces the Montague Burton Collection

Burton has introduced the Montague Burton collection for autumn/winter 2011, a carefully edited clothing range that draws on Burton’s heritage as a British brand with over 100 years’ worth of history and style archives. The Montague Burton collection includes stylish men’s jackets, coats, jumpers, cardigans, Burton suits and men’s accessories.

Jackets and coats form the basis of this heritage collection for the cold weather months. Based on jackets and coats from the brand’s first designs, their authenticity is maintained by being made in the same British mills and with the same British fabrics as they were in the early 1900’s. Tweed and herringbone feature heavily within the collection, giving the range a country feel, and extra details like suede elbow patches add to the look and define them as heritage-inspired pieces.

In keeping with the mood of the season, colours are typically autumnal, with warm greens and browns offset with neutral based camels, stones and oatmeals. Texture is a key focus for the Montague Burton collection for autumn/winter too, with lots of chunky jumpers and cardigans on offer. Whilst heavy cable knit jumpers are a practical way to keep warm in the colder months, they also look the part and are very on-trend this season.

The Montague Burton collection offers a smart kind of casual wear that is more classic and traditional than Burton’s mainstream men’s clothing, and features tailoring too – the very way in which Burton made its name all those years ago. Burton’s mens suits continue to be as premium looking as ever. They are designed to be fashionable but entirely wearable. A Montague Burton suit is an investment item that can be an occasion suit for years to come.

Aside from the main Montague Burton line, there are also accessories to complement the pieces from the rest of the collection or to act as standout items when mixed with regular Burton clothing. The salt and pepper tweed holdalls, knitted scarves and woollen flat caps are all classic men’s accessories not only for the autumn/winter season but, like the tailoring, they’re smart enough to wear season after season.

Via EPR Network
More Retail press releases

Topshop Releases Fashion Film for SS11

Topshop has joined forces with up-and-coming film maker Tyrone Le Bon and stylist Beth Fenton to create a fashion film which will showcase its trends for SS11. The film features two models, Kat and Esme, as they show off this season’s hottest trends.

The film is designed to encapsulate the overriding feeling that spring is all about dressing up and having fun with fashion. It was shot on a mix of normal film and cinefilm and features an impressive soundtrack.

The video features styles that will be prominent in this season’s collection and were selected by Beth Fenton as her Spring Picks. New looks for this season include the Snake Valley, Swedish Summer, New Age Constellation and Graduation collections, which comprise pieces like flared trousers, button-up blouses, fringed kimonos and diamante frayed hot pants.

Tyrone Le Bon, film maker for the Topshop fashion film, commented: “The Topshop aesthetic is about being an individual, so we took this beyond the girls and the clothes we were showing and across into the filmmaking process too.”

About Topshop:
Topshop was established in 1964 and is part of Arcadia Group Ltd. Sir Philip Green became owner of Arcadia Group Ltd in 2002.

Topshop is continually recognised as being an authority on women’s clothing with a wide range of jeans, dresses, bags and coats through to maternity wear, petite clothing and make-up.

Via EPR Network
More Retail press releases

Topshop Launches Charity Christmas Dress Hire Project

Topshop’s Oxford Circus flagship store is exclusively offering the once in a lifetime chance for customers to take a walk through the wardrobes of its fabulous circle of fashion friends. With one-off pieces donated by the crème of the fashion and celebrity world, customers will have the chance to hire their dream designer dress for December’s forthcoming Christmas parties.

Shoppers will be able to browse the selection of garments and try things on for size between 26th November and 6th December, before the hire period which runs 7th – 23rd December. Dresses will be available to hire for one day, and following the dress hire period there will be the opportunity to enter a silent bid and be the life-long owner of their desired dress when it is auctioned. Dress hire costs just £40. Most importantly, all of the hire fees and proceeds f r o m the auction will go to Topshop’s chosen charities Age Concern and Help the Aged.

Celebrities that have kindly donated to the project include Kate Moss, who donated a beautiful beaded Lanvin party dress, and Freida Pinto, who gave a pale yellow Burberry Prorsum dress. Scarlett Johansson’s Nanette Lepore animal print minidress will be available for hire, alongside a full length floral gown by Dolce & Gabbana f r o m Peaches Geldof and a midnight blue evening dress by Australian designer Jayson Brundson f r o m Dita Von Teese. Customers will also have the once-in-a-lifetime opportunity to wear one of Nicola Roberts’ of Girls Aloud’s bespoke stage costumes f r o m the band’s recent tour.

Not only will the dresses be the main talking point of the evening, wearers will not risk running into anyone in the same inimitable piece.

Sophie Dahl commented: “I am thrilled to support Help the Aged and Age Concern through Topshop’s Christmas ‘Dress Me Up’ initiative. What a good cause to put a lovely frock on for. The dress I donated is one I love, a proper party dress that deserves an outing.”

Peaches Geldof is also thrilled to be able to support the campaign: “This dress was a gift f r o m my good friends Dolce & Gabbana. It was beautifully made and means a lot to me. I wore it in Cannes and had lots of fun; I hope the next person who hires it does too. I think dress hire for charity is a great idea and Age Concern and Help The Aged are worthwhile causes. I am glad to be able to give something back to the third generation.”

Emma Cook, designer, commented: “Having worked with Topshop for so long, we didn’t think twice about donating our dress. It’s such a great cause, especially at this time of year. The combination of being able to help support Age Concern & Help The Aged and the chance for someone to wear our dress that wouldn’t ordinarily be able to afford to, is such a fantastic concept.”

About Topshop
Topshop is continually recognised as being an authority on Womens clothing, having won several awards for design reputation and new services, and has a wide range of dresses, shoes, coats, women jackets, jeans and bags.

Via EPR Network
More Retail press releases

Burton Announces Their New Heritage Collection, A Stylish Range Of Quality Contemporary Suiting, Born Out Of A Passion For Traditional Tailoring Methods

Burton, the leading UK menswear retailer, has announced their new Heritage collection. This latest range of stylish quality contemporary suiting is born out of the long held Burton passion for traditional tailoring methods. The collection will be featured in selected stores and online throughout the UK this autumn alongside Burton’s mainline and concession tailoring.

Burton has sought to ensure attention to detail is key throughout the Heritage collection.

These latest mens jackets feature a half canvas construction which forms to the body to give the wearer more comfort. The fabric selections reflect a strong attention to detail with the use of traditional Prince of Wales check and pin stripes inspired by the Burton mens clothing archives.

The fabric selection and labeling of the mens suits take their inspiration from original 1940s, 50s and 60s Burton garments which are then brought up to date with a sharper modern fit. The suits are made from pure merino wool and woven in the British mill first used by Montague Burton over 70 years ago and feature intricate detailing such as trouser brace buttons and an embroidered Burton “B” on the under collar.

Montage Burton once said, “Good clothes develop a man’s sense of self respect”, and the Heritage collection continues his legacy by offering a superior garment at an accessible price.

About Burton
Burton has a long history in mens clothing and fashion having been founded in 1903 by Montague Burton in Chesterfield. Burton now has over 400 outlets all over the UK and Ireland making it one of the country’s largest sellers of casual and formal menswear, including men’s jeans, shirts, suits, knitwear, shorts, shoes, underwear and accessories.

Customers can also shop online from the Burton.co.uk website which offers free returns in-store or by post and fast delivery to their home. The site features a useful size guide to ensure customers can get the correct fit. They can also sign up for the Burton newsletter, which offers all the latest style updates, exclusive discounts and competitions.

Via EPR Network
More Retail press releases

Estella, a leading retailer of Baby Clothes, Announces Charity Partnership With Action Against Hunger

Estella, a leading retailer of Baby Clothes, Designer Children’s Clothes & Unique Kids Clothes, today announced the debut of their back to school clothes and partnership with Action Against Hunger, a charity devoted to fighting hunger in more than 40 countries. For every purchase made from Estella this Fall and Winter, the retailer of contemporary fashions designed for children, will donate one Plumpy’Nut to a child in need. Featured on CBS’s 60 minutes and other prominent media, Plumpy’nut is a prepackaged, easy to administer peanut butter based concoction that helps severely malnourished children (6 months to 5 years old) recover from starvation.

Estella kicks off this charitable campaign with the arrival of its back to school collection of designer children’s clothes and fall apparel including kids shirts, shorts, dresses, coats, outerwear, trousers and pants for boys and girls, unisex baby clothes, baby boy and baby girl clothes.

“This charitable campaign is designed to raise awareness of a little known breakthrough cure for a big disease afflicting less fortunate babies and kids, the same age as the children our store caters to,” said Estella co-founder Chike Chukwulozie. “As an African-born American, I have witnessed childhood starvation and am excited to be doing something about it. While Estella’s campaign will not eradicate childhood starvation, we can help raise awareness and save a few lives,” added Mr. Chukwulozie.

One of the first lines to arrive that will benefit this hunger fighting program is European designer Album di Famiglia. Estella introduced this European designer to New York and online in 2003 and has now collaborated with Album di Famiglia to launch a line of baby onesie rompers. Exclusive to Estella, these striped one-piece rompers are modern, stylish, cashmere soft, yet practical and easy to care for. Made with machine washable cotton, these one-piece bodysuits make great baby gifts or baby shower gifts.

With the launch of its back to school season, Estella is also proud to debut European designer, Mormor. This Danish designer makes its US debut at Estella with hand knit baby sweaters, baby knits, kids sweaters and kids knits. In addition, Estella will be making other prominent designer debuts later this fall with the inclusion of Add; Belgian artisans Max & Lola and Simple Kids; French designers Hartford Kids & Bon Bon; British designer Caramel Baby & Child; American designers Kit+Lili, Kingsley and One Kid (luxury, yet affordable Baby coats, girls coats and boys coats); and many other high end brands perfect for Fall apparel and back to school attire.

With an appearance in September’s Cookie Magazine, Estella’s Back to School and Fall Season is already making a splash with significant contributions going towards the Action Against Hunger campaign. “Our goal at Estella is to provide customers with unique fashions that are distinctive yet practical, comfortable, yet contemporary and to do so with civic responsibility. With our collaboration with Action Against Hunger and prominent designer collections, we have squarely met this goal this season.” stated Mr. Chukwulozie.

With appearances in The New York Times, Elle Magazine, Dailycandy.com, CNN.com, Vogue, InStyle, NBC’s Today Show, Town & Country, US Weekly and numerous other publications, blogs and web sites, Estella is the leader in baby clothes and designer kids clothes. For more information on Estella or to start shopping for unique baby clothes and kids clothes, please visit http://www.estella-nyc.com.

About Estella
Renowned as the source for cutting-edge kids clothes, Estella has quietly established itself as the designer infant clothing shop that celebrities, stylists, royalty and those in the know look to when they want something fresh. Featuring distinctive and unique baby clothes and kids’ clothes that are brought to life with modern designs, incredible detail, unusual colors and sumptuous fabrics, Estella’s innovative approach offers gorgeous items selected for beauty and character. Founded in 2002, Estella is privately held and headquartered in New York, NY. For more information about Estella, please visit the company’s web site at http://www.estella-nyc.com.

Via EPR Network
More Retail press releases